- CNBC.com•2 days ago
Here’s what Warren Buffett says to do when the market tanks
On Friday, as investors reacted to the possibility of a trade war between the United States and China, the Dow Jones industrial average fell 400 points into correction territory, marking its worst week since January 2016. The Dow dropped a total of 5.7 percent over the week, while the S&P 500 fell 5.9 percent and the Nasdaq composite fell 6.5 percent. That leaves many investors worried and wondering what to do. During times of stress and uncertainty, Oracle of Omaha Warren Buffett recommends keeping a level head. In response to wild market fluctuations back in 2016, he told CNBC that buy-and-hold is still the best strategy. "Don't watch the market closely," he advised those worried about their
MarketWatch•yesterdayDow Theory sell signal is now just one step away from being triggered
The Dow Jones Industrial Average tumbled 424.69 points Friday to close at a four-month low of 23,533.20. What makes the decline technically very significant is that closing below the Feb. 8 closing low of 23,860.46 completes half of the final step needed to trigger a Dow Theory sell signal, as MarketWatch senior columnist Mark Hulbert explained. Read: Opinion: The bull market in stocks is barely limping along The Dow Theory is a market timing tool that has been relevant on Wall Street for a century. With the Dow DJIA, -1.77% closes at a lower low, after a lower high, all that’s needed to trigger the sell signal is for the Dow Jones Transportation Average DJT, -1.84% to close below its Feb. 9
- MarketWatch•21 hours ago
Stop saying the Dow is moving in and out of correction! That is not how stock-market moves work
The Dow Jones Industrial Average is in correction territory, a move that took effect on Feb. 8 when the blue-chip gauge closed 10.4% below its late-January high. Market technicians generally define a correction as a decline of 10% to up to 20% from a recent peak in an asset. But once that security slips in to correction phase, that trend is viewed as in force until it trades above its previous peak. Read: History suggests the correction isn’t near over, as this chart demonstrates In the case of the Dow, its previous high was Jan. 26 when it closed at a record of 26,616.71. The Dow DJIA, -1.77% came within 4.5% of that apex on Feb. 27, but that uptrend faltered. Also read: Did the stock market
- FX Empire•13 hours ago
E-mini Dow Jones Industrial Average (YM) Futures Analysis – Poised to Make New Low for Year
After consolidating early in the week for three sessions, June E-mini Dow Jones Industrial Average futures plunged sharply lower, reaching levels not seen since February 9. The selling was fueled by a combination of rising interest rates and fears of a trade war after President Trump announced sanctions against China. The main trend is down according to the daily swing chart.
- Bloomberg•2 days ago
U.S. Stock Market Decline
The U.S. stock market saw its biggest weekly decline since 2016 as fears of a trade war with China increased #tictocnews https://bloom.bg/2G99rH6 More from Bloomberg.comChina Hits Back on
- barrons.com•2 days ago
Wells Fargo Cleaning House as Probes Continue
Wells Fargo is shaking up its risk management leadership as it tries to recover from a series of scandals. Four top risk-management executives are retiring, and a reorganization is aimed at better managing risk going forward, according to The Wall Street Journal. The news, laid out in an internal memo, comes amid multiple regulatory probes in the wake of the bank’s fake account scandal and its sale of unwanted insurance policies. Wells, with about 14,500 brokers and $1.6 trillion of wealth management assets, has lost hundreds of advisors in the past couple of years. The word is that in-branch brokers have been struggling with the brand fallout more than the employee and independent advisors in
- FX Empire•10 hours ago
“Trump’s Tariff Plans Have Created Uncertainty and Put Global Stock Markets under Pressure”
Nigel Green, founder, and CEO of deVere Group is speaking out after global stock markets come under heavy pressure on fears over the rising trade tensions between the U.S. and China – the world’s largest and second largest economies, respectively – and how global economic growth and corporate earnings will be impacted. President Donald Trump confirmed tariffs on Thursday on up to $60bn in annual Chinese imports. “By imposing tariffs and opposing free trade and globalization, he is potentially creating a totally unnecessary trade war that will be detrimental to the U.S. and global economies.
- Bloomberg Video•2 days ago
Kroger Said to Discuss Merger With Target
Mar.23 -- Bloomberg's Ed Hammond discusses the report that Kroger Co. may be considering a merger with Target Corp. He speaks with Bloomberg's Scarlet Fu and Lisa Abramowicz on "Bloomberg Markets."
- TheStreet.com•2 days ago
Tech Stocks That Look Fairly Cheap Following the Rout
Here are some tech stocks whose multiples look quite acceptable following the recent Nasdaq selloff. trade at steep forward multiples even in the event that they pare back their spending and focus more on their bottom lines (Wall Street has given them a green light to prioritize growth, and it's hard to blame them for taking advantage. Facebook, stung by a scandal that has produced a lot of negative press but may ultimately have a limited impact on its top line, now trades for only 18 times its 2018 GAAP EPS consensus, and 16 times its non-GAAP consensus.
- Fortune•2 days ago
Facebook Data Scandal: Here’s What Advertisers Are Asking the Social Network About Cambridge Analytica
The social media company’s stock has tanked more than 13% over the past five days, on the heels of the Cambridge Analytica data scandal. The company wasn’t exactly quick to communicate with the media and the masses, but over the last few days it has trotted out several executives, including CEO Mark Zuckerberg, to communicate the steps they are now taking to try and fix the underlying problems on the platform and assuage users’ concerns. Pressure is also coming from various regulatory bodies and, increasingly, from advertisers.
- Bloomberg•yesterday
U.S. Investors Will Have Chance to Buy Aramco Shares, Saudis Say
Americans will have a chance to own shares in Saudi Arabia’s oil company, the nation’s energy minister said. Saudi Energy Minister Khalid Al-Falih also said some investors have been slow to sign on to the reform plan proposed by Crown Prince Mohammed bin Salman because they are focused on dividends. “We are going to have to face that when we list Aramco and have a conversation about how much cash will be given to investors,” he said in a speech Saturday at the Massachusetts Institute of Technology.
- Reuters•1 hour ago
Uber to sell Southeast Asia business to rival Grab - source
Ride-hailing firm Uber Technologies Inc has agreed to sell its Southeast Asian business to bigger regional rival Grab, a source with direct knowledge of the matter said on Sunday, in what would be the U.S. company's second retreat from Asia. The deal, which could be announced as early as Monday, marks the first big consolidation in the industry in Southeast Asia, home to about 640 million people, and will put pressure on rivals such as Indonesia's Go-Jek, backed by Alphabet Inc's Google and China's Tencent Holdings Ltd . As part of the transaction, Uber would get a stake of as much as 30 percent in the combined business, the source said.
- The Street•2 days ago
Dropbox Stock Explodes 40% in Its Public Debut
Dropbox (DBX) is now a public company after a resounding reception by Wall Street. Shares of the data storage firm popped more than 40% on Friday as it debuted on the Nasdaq. With 500 million plus users, a good revenue growth story to tell and a lack of tech IPOs of late it's no surprise Dropbox was welcomed. Dropbox chief operating officer Dennis Woodside tells TheStreet the company's growth prospects are solid, despite tough competition from Action Alerts Plus holdings Amazon (AMZN) and Alphabet (GOOGL) . Added Listen Listen to TheStreet's Technically Speaking podcast to learn how to protect your data in the wake of Facebook's (FB) breach.
- Bloomberg•2 days ago
How to Compare Climate Risk Across the Biggest Oil Companies
Energy companies could waste a massive $1.6 trillion by ignoring climate risk, according to a study by London-based nonprofit Carbon Tracker Initiative. To find out which oil and gas producers are most exposed to these risks, use a new app on the Bloomberg terminal that compares companies across the relevant metrics. The 2D Scenario Analysis Tool looks at 68 companies in the S&P Global Oil Index through a climate change lens. It starts with a hypothetical: Let’s say the world manages to act to limit the rise in average global temperature to 2 degrees Celsius (hence the 2D). To do that, demand for fossil fuels will need to fall. It then asks: How would that affect the oil companies? The analysis
- FX Empire•15 hours ago
Rate Hike Forecast Disappointment, China Trade War Fears Sink U.S. Dollar
The U.S. Dollar fell against a basket of currencies last week, driven lower by a less-hawkish U.S. Federal Reserve and fears of a trade war after President Trump announced he would initiate sanctions against China. June U.S. Dollar Index futures settled
- CNBC Videos•2 days ago
Energy (XLE), Bank of America, Citigroup & Intel
The "Halftime Report" traders give their top stocks to watch for the second half.
Associated Press•2 days agoUS charges 9 Iranians in massive hacking scheme
The Trump administration announced criminal charges and sanctions Friday against Iranians accused in a hacking scheme to pilfer sensitive information from hundreds of universities, private companies and American government agencies. The nine defendants, accused of working at the behest of the Iranian government-tied Islamic Revolutionary Guard Corps, hacked the computer systems of about 320 universities in the United States and abroad to steal expensive science and engineering research that was then used by the government or sold for profit, prosecutors said. The hackers also are accused of breaking into the networks of government organizations, such as the Department of Labor, the Federal Energy Regulatory Commission and the United Nations, and private sector entities including technology companies and law and consulting firms.
- Bloomberg•14 hours ago
JPMorgan Sees Market Overcoming Stock Rout, But Beware Trade War
Despite a harrowing week for U.S. stocks, market conditions are looking favorable heading into the second quarter, according to JPMorgan Chase & Co. Conditions for stability will probably come together in the second quarter, and asset allocations should remain oriented toward growth, JPMorgan strategists led by John Normand wrote in a note Friday after the S&P 500 closed down 6 percent for the week. "Two of four conditions for market stability have been met (tamer inflation, not-so-hawkish Federal Reserve), and the two others could align in the second quarter (stable activity data, de-escalation of trade conflict),” the strategists wrote.
- TheStreet.com•yesterday
Could Starbucks Be Affected In a Trade War?
Market participants are searching for potential trade war victims among U.S. stocks. Remember, of course, that assumes a full-blown trade war breaks out, which has not happened, but stocks are forward-looking discount mechanisms, so it's worth stress-testing your holdings for exposure to a trade tiff between the U.S. and China. would be the most obvious victim of a U.S.-China trade war, but many other names have been tossed around over the past two weeks.
- FX Empire•12 hours ago
E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Could See More Pressure After Close Under Key Retracement Zone
June E-mini NASDAQ-100 Index futures broke sharply last week, driven lower by an over 10-percent drop in shares of Facebook, a Fed interest rate hike and fears of a trade war. The main trend is down according to the daily swing chart.
Business Insider•yesterdayThese are the leading credit card processing companies (JPM, BAC, C, WFC, VNTV, TSS, BCS, FDC, WPG)
Credit card processors are mostly responsible for data transmission and security when you use your card at a store or online to make a purchase. Below, we've outlined the major players in credit card processing and described their major strengths.
- Fortune•yesterday
Apple CEO Tim Cook Calls for ‘Well-Crafted’ Regulations on Data Privacy After Facebook Controversy
Inc. Chief Executive Tim Cook has called for stronger privacy regulations that prevent the misuse of data in the light of the controversial leak of user information. Facebook co-founder Mark Zuckerberg belatedly apologized for failing to better control its customers' data following reports that it let Cambridge Analytica amass information on 50 million users.
Associated Press•2 days agoStocks tumble on trade fears; S&P has worst week in 2 years
Stocks around the world plunged Friday as investors feared that a trade conflict between the U.S. and China, the biggest economies in the world, would escalate. A second day of big losses pushed U.S. stocks to their worst week in two years. Investors fear that if China responds in kind to sanctions on $60 billion worth of Chinese imports the White House announced on Thursday, it will be a first step toward a full-blown trade war that could damage the global economy and slash profits at big U.S. exporters like Apple and Boeing.
The Street•2 days agoElon Musk's Pay Package Could Be Worth $50 Billion
All of the riders in the recently approved 10-year pay package for Tesla Inc. (TSLA) CEO Elon Musk could total more than $50 billion. Tesla says that the stock options in the package are worth $2.6 billion at current values, however, the pay scale incentivizes the CEO to increase the company's market cap from current levels in the $50 billion range to $650 billion. The company's board has credited Musk with increasing Tesla's market capitalization 17 times from where it was when Musk signed his previous incentive package in 2012. Musk, who currently owns more than 20% of Tesla shares, will get stock worth 1% of the company for each of the 12 milestones that are detailed in the new package.
- Bloomberg•2 days ago
A Horror Week for the Dow Has Investors Begging for Trump Respite
At the epicenter this time is U.S. President Donald Trump, with his China tariffs driving Boeing Co. down more than 5 percent in a single session on Thursday and losses rippling across industries from technology to banks. “Investors that have for months relied on Trump’s pro-business rhetoric are now caught off guard,” said Matt Maley, equity strategist at Miller Tabak & Co. “Trade tariffs are a big change and China’s response can even get stronger. Consider this as a worrying sign of investor fragility: the S&P 500 has closed lower than the midpoint of its daily range for 10 straight days, the longest stretch since at least 1982.
